https://www.taxtmi.com/caselaws?id=4375 The court ruled in favor of the assessee, allowing the carry forward of losses based on a return filed in response to a notice under section 148 of the Income-tax Act. Despite the return not being filed within the specified time under sections 139(3) or 139(4), the court considered it as filed under section 139(2) by legal fiction, entitling the assessee to the benefit of carrying forward losses under section 80 of the Act. The judgment referenced precedents from the Calcutta High Court and the Madhya Pradesh High Court to support this interpretation, ultimately deciding in favor of the assessee. en-us Mon, 19 Nov 2007 00:00:00 +0530 Sat, 26 Jul 2008 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4375 The court ruled in favor of the assessee, allowing the carry forward of losses based on a return filed in response to a notice under section 148 of the Income-tax Act. Despite the return not being filed within the specified time under sections 139(3) or 139(4), the court considered it as filed under section 139(2) by legal fiction, entitling the assessee to the benefit of carrying forward losses under section 80 of the Act. The judgment referenced precedents from the Calcutta High Court and the Madhya Pradesh High Court to support this interpretation, ultimately deciding in favor of the assessee. Case-Laws Income Tax Mon, 19 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4375